# Abstract Honingdas Network aims to build an integrated and interconnected protocol matrix for open financial and monetary protocol applications developed based on blockchain technology, providing a unified liquidity pool of infrastructure to serve the future meta-universe open financial network. The combination of digital currency and blockchain technology is expected to change the monopoly landscape of traditional finance. As we all know, the operation of traditional finance is subject to strong supervision, and the information island and compliance supervision are not conducive to the free flow of money and capital. We are familiar with the traditional financial way of the operation, is formed through the trust intermediary and counterparty have privileged and restricted value flow, credit creation, lending, payment, securities underwriting, IPO and other financial activities, must be executed through the trust of centralized third party institutions, this is with the development of thousands of years of natural evolution and the formation of a closed financial system. The cost of centralized trust is high, and the most reliable trust is usually behind the government or state sovereignty, which controls the pricing power of the currencies within their jurisdiction, from the purchasing power and inflation of fiat currencies (fiat currencies), to interest rates and fiscal policy. In a narrow sense, for example, individuals must trade through layers of intermediaries and custodians (i. e., depositors need banks to lend their idle cash to borrowers in need), and companies that need financing must hire underwriters to issue shares or conduct private financing through financial advisers. Trust is inherently difficult to extend. For example, institutions in one country (such as local banks or local insurance companies) are difficult to gain the same degree of trust from users in other countries internationally, which can severely limit the liquidity of money and capital. Traditional funds must be circulated through trusted institutions and networks, which is the bottleneck of the free flow of money and funds. Since the creation of the currency, digital currency or block chain's biggest achievement is under the premise of trust minimization, implements the value on the network, it eliminates the bottleneck of capital flow, let the currency and value return to source —— value is the information, can through the bit (the smallest unit of information) frictionless instant flow. The combination of the non-licensing and trust-free features of digital currency and blockchain technology gives it the opportunity to reshape the existing financial and monetary systems. The birth of Ethereum has greatly expanded Bitcoin's ability to serve as a currency and settlement network, and we have for the first time witnessed the rise of an expanding and self-improving network of financial protocols. The Ethereum network has become a hotbed for a new financial and monetary system with strong vitality. We are able to launch activities around the world, stablecoens, decentralized trading, money markets, lending markets, insurance, forecasting, and games, opening a new chapter in the history of open finance. In an open financial system, users always have control of their assets and need not rely on a counterparty (such as a custodian or national sovereignty) to make financial decisions. The open financial system will promote faster and better innovation and iteration of financial protocols, providing better quality products and services to billions of people around the world. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://honingdas.gitbook.io/honingdas.net/abstract.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.